Bulls, Bears & The Lion

[findvikas]

My intuition says Dow is up because I bought Puts lol... and I know majority will agree to that.

 

[kingfisher3210]

Don't trust the numbers

Well said but actually in a pressure cooker trading situation market trust the numbers only.

The reported numbers will change the collective psychology of market participants leading to 'herd buying' or 'herd selling'.

Your fundamental analysis is spot on but i remember on dec 4, 2009 when NFP data was released, euro/usd felt around 250 pips in a matter of one hour.

Fundamental traders were buying against the 'herd selling' putting all kinds of fundamental theories why US data is a flaw.

 

[findvikas]

Europe closed and I am going short now...

 

[nimish_rulz]

Europe closed and I am going short now...

In my view you should have shorted when dow hit the peak of your trendline and retraced 20 points. That is where i took my short. I m still on paper trade here just filtering my system. My target support is 10050 on the cash.

 

[nimish_rulz]

In my view you should have shorted when dow hit the peak of your trendline and retraced 20 points. That is where i took my short. I m still on paper trade here just filtering my system. My target support is 10050 on the cash.

There is also a huge gap to be taken care of 145 points.

 

[aditya14]

My intuition says Dow is up because I bought Puts lol... and I know majority will agree to that.

but obvious....

 

[aditya14]

Dow may just rally into the close tonight and IIP numbers tomorrow so interesting couple of days.Shortcovering will be huge if we close above 5170.

 

[findvikas]

New Estimates Double Rate of Oil That Flowed Into Gulf :annoyed:
http://www.nytimes.com/2010/06/11/us/11spill.html

 

[saivenkat]

Dow may just rally into the close tonight and IIP numbers tomorrow so interesting couple of days.Shortcovering will be huge if we close above 5170.

I feel today the second half of the market will bring down selling pressure, and there is lesser chance to close above 5170. IMO, for the strong resistance at 5150 levels to be broken, huge volumes must be gathered at this level for the market to cross.

Regards
Saivenkat

 

[aditya14]

everybody is expecting the dump tonight maybe contrarians will prevail